Homeowners optimistic about economy, choosing not to sell just yet

Freeman Staff

June 30, 2017

WAUKESHA - While many Waukesha County homeowners think it's a good time to buy and sell a house, most are waiting to sell their homes, according to a recent regional real estate study.

Waukesha residents surveyed in the 2017 Greater Milwaukee Association of Realtors consumer study were twice as likely to say they were optimistic about the economy than Milwaukee homeowners. But region-wide people said they are waiting to see how things in Washington D.C. develop, including tax policy, deducibility of mortgage interest and health care, according to the report.

Half of respondents ranked a four or five out of five that "I'm afraid of what is going on in Washington D.C. right now."

Others are waiting because of a recent remodel or to see if the market will increase the worth of their home.

The report cites other housing studies which show that house prices have risen recently and show high demand, especially in first-time buyers looking for good homes under $350,000.

The tight market for starter homes in the greater Milwaukee area has brokers hoping that more people decide to put their homes up for sale this year, which about one in five of those surveyed said they are interested in doing. If the six percent who said they are "very likely" to sell in the next 12 months follow through, there would be about 22,172 homes sales, according to the report. Last year, there were just over 21,000 home sales.

The survey reached 500 homeowners by phone or online across Milwaukee, Waukesha, Washington and Ozaukee counties between May 16 and 18.